PCM MODULE FAILURE F150?

2002 Ford F-150 5.4l While driving home last night the truck bogged down and then cleared a few times and finally quit running as I pulled into a gas station.

Attempting to restart, we end up with the flashing Anti-theft alarm and dashes displayed on the odometer.
Truck won't start and everything points to the PATS as a possible culprit.

Technicians check the codes and state the following codes show up.
C 1284, U-1262
A GEM code of P0500
and two additional codes of B1428 and B1315.

Finally, they state that the PCM module is the problem and the part costs $800.00 plus an additional $350.00 to program the new PCM module and to program 2 keys.
Does any of this make sense?
Thanks,
Harrison3